Zacks: Analysts Anticipate Kellogg Company (K) Will Announce Quarterly Sales of $3.21 Billion
Wall Street analysts expect that Kellogg Company (NYSE:K) will report $3.21 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Kellogg’s earnings. The lowest sales estimate is $3.13 billion and the highest is $3.26 billion. Kellogg posted sales of $3.25 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.2%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, October 31st.
According to Zacks, analysts expect that Kellogg will report full year sales of $3.21 billion for the current year, with estimates ranging from $12.59 billion to $12.83 billion. For the next fiscal year, analysts expect that the company will report sales of $12.71 billion per share, with estimates ranging from $12.47 billion to $12.95 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Kellogg.
Kellogg (NYSE:K) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.05. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellogg had a net margin of 6.12% and a return on equity of 70.22%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share.
Several research firms recently commented on K. Piper Jaffray Companies set a $78.00 price objective on shares of Kellogg and gave the stock a “buy” rating in a research report on Monday, August 7th. Royal Bank Of Canada decreased their price objective on shares of Kellogg from $81.00 to $79.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 1st. J P Morgan Chase & Co upgraded shares of Kellogg from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $76.00 to $78.00 in a research report on Friday, August 4th. Zacks Investment Research lowered shares of Kellogg from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $74.00 price objective (up from $71.00) on shares of Kellogg in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $74.50.
Kellogg (NYSE K) opened at 62.52 on Thursday. Kellogg has a 12-month low of $61.70 and a 12-month high of $78.37. The stock has a market capitalization of $21.58 billion, a P/E ratio of 28.30 and a beta of 0.48. The firm’s 50-day moving average is $66.48 and its 200 day moving average is $69.55.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a dividend of $0.54 per share. The ex-dividend date was Wednesday, August 30th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.46%. This is an increase from Kellogg’s previous quarterly dividend of $0.52. Kellogg’s dividend payout ratio is currently 97.74%.
Several hedge funds and other institutional investors have recently bought and sold shares of K. Washington Trust Bank increased its position in Kellogg by 0.8% during the 2nd quarter. Washington Trust Bank now owns 1,780 shares of the company’s stock worth $124,000 after purchasing an additional 15 shares in the last quarter. Pathstone Family Office LLC acquired a new stake in Kellogg during the 1st quarter worth approximately $143,000. Exane Derivatives increased its position in Kellogg by 24.2% during the 2nd quarter. Exane Derivatives now owns 2,300 shares of the company’s stock worth $160,000 after purchasing an additional 448 shares in the last quarter. CWM LLC increased its position in Kellogg by 5.3% during the 2nd quarter. CWM LLC now owns 2,343 shares of the company’s stock worth $163,000 after purchasing an additional 117 shares in the last quarter. Finally, Alpha Windward LLC increased its position in Kellogg by 0.4% during the 2nd quarter. Alpha Windward LLC now owns 2,575 shares of the company’s stock worth $179,000 after purchasing an additional 11 shares in the last quarter. 85.40% of the stock is owned by institutional investors.
Kellogg Company is a manufacturer and marketer of ready-to-eat cereal and convenience foods. The Company’s principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, savory snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods.
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